Amb. Igali said this while declaring open, a seminar on the commencement of formal registration of all National Electricity Regulation Commission (NERC) licenced market participants in the Nigerian electricity market.
The ministry had said earlier that it commenced severance payment for staff of Generation companies (Gencos) as at August 1 and was expected to pay the Distribution companies (Discos) by month ending.
Amb. Igali who represented the Minister of Power, Prof. Chinedu Nebo, noted that beside the severance payment and complete payment made by the new power firms’ owners, the Transition Electricity Market (TEM) is the final lap of the reform process which has started already.
In his remarks, Executive Director of the Operator of the Nigerian Electricity Market (ONEM)/ Market Operator (MO) Bar. Evaristus Mogbo explained that the power sector reform is moving from the pre-transition stage to the three other stages which include, transition, post transition and long run market operations.
Mogbo disclosed that there are a number of Condition Precedents (CPs) required of the MO before declaring the transitional stage.
“To complete the CPs, you have been invited today to this seminar as a platform to declare open the formal registration of the NERC licensed market participants with the MO,” he said.
